Taxo is a Latin language or the origin of the word tax, is a obligatory financial charge or some other type of retribution charged over a taxpayer (a person or other institution) by a governmental comity in order to maitain sundry general expense. A failing to settle, along with avoidance of or refuse to taxation, is punishable by law. Taxes be compose of direct or indirect taxes also may be paid in cash or as its labor equivalent. The first known taxation implemented in Old Egypt around 3000–2800 BC.

Most countries apply a tax system to pay public facilities, national needs also government functions refer to common agreement. Some retribution a flat percentage rate of taxation on individual yearly income, but most scale taxes based on annual income amounts. Most countries charge a tax on personal income such as on venture income. States or subunits often also burden treasure taxes, inheritance taxes, gift taxes, property taxes, sales taxes, payroll taxes or tariffs.

In economic terms, taxation transfershandovers treasure from households or companies to the government. This has impacts which can both increase or lower economic growth also economic welfare. Consequently, taxation is a extremely debated topic.

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